Manager - Financial Analysis & Valuation

(CFA Charterholder)

1. Position Details:

Position Title: Manager - Financial Analysis & Valuation (CFA)

Reference Number: RHL/HR/JD/2026/003

Function: Group Finance - Corporate Finance & Capital Markets

Reports To: Vice President - Finance (IPO & Fund Raising)

Direct Reports: Financial Analysts (1 - 2)

Location: United Arab Emirates

Band / Grade: Middle Management - Manager

Employment Type: Full-time, permanent

2. Purpose of the Role:

The Manager - Financial Analysis & Valuation is the Group's technical custodian of financial models, valuation opinions and investor analytics. The role produces and defends the quantitative substance behind a gross programme portfolio of approximately USD 50.7 billion and a base sum-of-the-parts Group Enterprise Valuation of USD 16.5 billion, supporting the Q4 2027 IPO, the USD 5 billion Green Wakala Sukuk programme and all project-level fund raising. The postholder is expected to hold the CFA charter and to apply institutional-standard rigour, documentation and auditability to every number that leaves the Group.

3. Key Responsibilities and Accountabilities:

A. Financial Modelling:

- Build, maintain and version-control the Group and programme-level financial models, including the ten-year ESMH operating model and the models supporting the Florida, Portugal (Almeida and Celorico da Beira), Botswana, Paraguay and Thailand programmes.

- Apply and maintain best-practice model architecture: clear input / calculation / output separation, no hard-coding in formulas, full audit trail, error-check panels, and documented assumption sources.

- Model the Group's Ecosystem Flywheel revenue architecture - master-developer hub operations, 40% equity participation in resident industries, and carbon credit monetisation - through to consolidated revenue, EBITDA, cash flow and returns.

- Construct project finance and debt structuring modules: drawdown and repayment schedules, sukuk profit rate profiles, DSCR and LLCR covenant testing, and funding waterfall logic.

- Run scenario, sensitivity and Monte Carlo analysis on occupancy pace, capex escalation, carbon price, discount rate, FX and offtake assumptions; present tornado and break-even outputs.

B. Valuation and Analysis:

- Prepare and update the Group Enterprise Valuation (RHL/GEV/2026/001) and the underlying programme valuation reports, applying the Group's blended methodology of sum-of-the-parts, discounted cash flow and IPO-implied approaches with documented weightings.

- Derive and evidence discount rates (WACC, cost of equity, country risk premia), terminal value assumptions and long-term growth rates from primary market data.

- Maintain comparable company and precedent transaction benchmarking sets across industrial real estate, free zone operators, data centres, aviation infrastructure and carbon markets.

- Ensure internal consistency and reconciliation between valuation reports, feasibility studies, detailed project reports, information memoranda and board papers - no unreconciled variance between documents.

- Conduct independent review of third-party and counterparty financial submissions, including joint venture partner valuations and tenant creditworthiness assessments.

C. Transaction and Investor Support:

- Prepare the quantitative sections of information memoranda, investor presentations, teasers, rating agency packs and lender credit papers.

- Support due diligence by responding to investor, lender, auditor and model-auditor queries with clear, referenced workings.

- Analyse joint venture and equity participation proposals: entry valuation, dilution, waterfall economics, exit modelling and returns to Rana Holdings.

- Track capital markets conditions, peer trading multiples, sukuk pricing and sector news relevant to the Group's issuance windows.

- Prepare monthly management analytics: budget variance, programme capex burn, funding requirement forecast and valuation movement bridge.

D. Governance and Standards:

- Enforce a single source of truth for Group financial assumptions and maintain the master assumption register with sourcing and approval history.

- Apply IVS, RICS Red Book and CFA Institute professional and ethical standards to all valuation work.

- Prepare documentation to withstand external model audit, reporting accountant scrutiny and independent valuation review.

- Maintain confidentiality and information-barrier discipline over price-sensitive material.

4. Key Performance Indicators:

- Zero material errors identified in external model audit or investor due diligence.

- Full reconciliation across all Group financial documents at each reporting cycle.

- Turnaround time on investor, lender and rating agency information requests.

- Timely delivery of valuation refreshes ahead of each capital markets milestone.

- Quality and completeness of the master assumption register and model documentation.

5. Qualifications and Experience:

- CFA charterholder (mandatory). Candidates who have passed CFA Level III and are awaiting charter award will be considered.

- Bachelor's degree in Finance, Accounting, Economics, Engineering or Mathematics; a professional accounting qualification (CA / ACCA / CPA) or Master's degree is an advantage.

- Seven (7) to ten (10) years' relevant experience in investment banking, valuation advisory, Big Four transaction services, private equity, infrastructure funds or corporate development.

- Demonstrable ownership of complex, multi-entity financial models and formal valuation reports.

- Exposure to infrastructure, real estate development, industrial or energy assets preferred; familiarity with carbon markets is an advantage.

- GCC experience preferred; understanding of Islamic finance economics desirable.

- Fluent written and spoken English.

6. Technical and Behavioural Competencies:

- Expert-level Excel and financial modelling; VBA, Power Query and Power BI capability advantageous.

- Strong command of DCF, SOTP, comparable company, precedent transaction and real-option valuation techniques.

- IFRS literacy sufficient to build models that tie to statutory reporting.

- Precise, concise technical writing suitable for board and prospectus use.

- Analytical scepticism - the willingness to challenge an assumption regardless of its source.

- Meticulous attention to detail under deadline pressure.

7. Key Working Relationships:

Internal: Vice President - Finance; Group CFO; Chairman & Managing Director; Programme Director; Head of Leasing & Strategic Partnerships; programme SPV teams.

External: External auditors and reporting accountants; model auditors; independent valuers; rating agencies; investment banks; lenders and investors; market data providers.